Rail stocks surge as Ashwini Vaishnaw retains Railway Ministry: IRCON, IRFC, RailTel rise
Jun 11, 2024 10:35 AM IST
Railway stocks fell up to seven per cent on June 4 after the Lok Sabha election results defied exit polls which had shown a landslide victory for the BJP.
Railway stocks surged today (June 11) as minister Ashwini Vaishnaw retained the Railway Ministry in the PM Modi cabinet indicating policy continuity. Goldman Sachs said, “We expect the new government to stick to the fiscal consolidation path with a continued thrust on infrastructure creation through more rail network, amidst a slight tilt towards more rural spending."
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Railway stocks fell up to seven per cent on June 4 after the Lok Sabha election results defied exit polls which had shown a landslide victory for the BJP.
How are rail stocks performing today?
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Ircon International shares rose five per cent to ₹265 apiece. RailTel shares saw a four per cent jump, RVNL shares rose three per cent and Indian Railway Finance Corp shares gained almost three per cent.
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